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Treasury official warns of the implications of China's manufacturing focus on global trade /  AFP via Getty Images Treasury official Brad Setser has raised significant concerns regarding the current state of global trade, emphasizing that Chinese President Xi Jinping's industrial policies may pose a greater threat to the global economy than the tariffs imposed by President Donald Trump. Setser, a senior fellow at the Council on Foreign Relations and a deputy assistant secretary at the Treasury Department during the Obama administration, argues that while Trump's aggressive tariff strategy has created unpredictability in trade relations, the real issue lies in China's trade practices and export-driven economy. Setser's perspective highlights the stark imbalance in trade flows between China and its global partners. Over the past six years, China’s imports of manufactured goods have barely increased, growing by an average of only $15 billion annually after adjusting f...

Five Guys UK and Europe CEO warns of negative effects on expansion plans due to tax hikes The chief executive of Five Guys in the UK and Europe, John Eckbert, has expressed grave concerns regarding the financial implications of Rachel Reeves's recent tax increase. He warned that the upcoming rise in employers’ National Insurance (NI) contributions will significantly hinder his company's growth plans, echoing widespread apprehension among hospitality leaders about the adverse effects of the latest Budget on the sector. Eckbert revealed that Five Guys is set to incur a £4 million loss due to the tax changes set to take effect in April. This financial strain will not only slow the company's expansion plans but also result in fewer job opportunities. He stated, “Consider how many new locations we could open with an additional £4 million. This tax hike restricts our ability to invest and grow. Each new restaurant generates between 50 to 75 jobs, along with approximately £1 mill...

Investors Turn to Gold as Safe Haven Amid Economic Uncertainty Gold is poised to secure its eighth consecutive weekly gain as demand for the safe-haven asset rises. The impetus for this surge comes from concerns over tariffs and a significant price discrepancy between the United States and London, which has driven an increase in shipments of physical gold bars to New York. On the latest trading day, gold futures were seen hovering around $2,950, slightly retreating from their all-time high achieved earlier, while the spot price in London was approximately $2,930 per ounce. Year to date, gold prices have surged nearly 11%, marking the 11th record high of 2025 earlier this week. This upward price movement is largely attributed to persistent central bank purchasing, ongoing geopolitical tensions, and uncertainties surrounding potential US tariffs, which may even extend to include precious metals. Earlier comments from President Trump indicated a looming imposition of tariffs on various ...

Record profits and revenue push Latin American e-commerce giant's stock upward Shares of MercadoLibre Inc., the leading e-commerce and fintech company in Latin America, soared to record highs after the firm reported impressive earnings that significantly exceeded analyst expectations. In the fourth quarter, the company posted a net income of $639 million, surpassing the median analyst estimate of $406 million, as indicated by data from Bloomberg. Additionally, MercadoLibre achieved revenue of $6.1 billion for the quarter, beating predictions and resulting in a stock price surge of up to 12.5% at the start of trading in New York. This robust financial performance comes on the heels of a third quarter that disappointed investors, leading to a decline in stock prices due to various profit metrics falling short as a result of heightened investments in logistics and credit services. However, MercadoLibre has made a notable recovery, with its shares rebounding by 37% since the beginning...

Advocates stress the importance of upholding 2025 CO2 targets for the auto industry / Reuters European electric transport organizations are calling on the European Union to firmly reject the automotive industry's efforts to relax the 2025 CO2 emission regulations and associated penalties. In a letter addressed to European Commission President Ursula von der Leyen, two prominent groups emphasized the necessity of adhering to stringent emission targets, which are crucial for accelerating the transition to electric vehicles (EVs) across the continent. The letter, which has been reviewed by Reuters, highlights that any delays in implementing the emission targets or adjustments to the penalty structure could undermine the EU’s competitive stance in the global electric vehicle market. The European car manufacturing sector has been vocal about its difficulties in competing with rising Chinese automakers and the potential impact of tariffs from the United States. As a result, they are adv...

Prada Explores Potential Acquisition of Versace Amidst Financial Challenges / Reuters Italian luxury brand Prada has been granted a unique opportunity to access the financial data of rival Versace, currently owned by Capri Holdings, which has been put up for sale. According to sources familiar with the situation, Prada has a four-week period to assess this information, marking a significant strategic shift for the brand, which has primarily focused on internal growth for the past few decades. This development comes as Capri Holdings, which is collaborating with Barclays to facilitate the sale, aims to divest its Versace and Jimmy Choo brands. Prada's interest in Versace represents a departure from its recent strategy, as it has not engaged in brand acquisitions since the late 1990s. The potential acquisition could allow Prada to reach a different customer demographic that is drawn to Versace's bold and extravagant style, contrasting sharply with Prada's characteristic mini...

Kleiner Perkins Leads Investment as Enterprise-Focused AI Code Tool Gains Traction Codeium, an AI-powered coding assistant designed for enterprise software development, is reportedly securing a fresh funding round at a valuation of approximately $2.85 billion. According to sources familiar with the deal, Kleiner Perkins, a previous investor, is leading the round. This comes just six months after the Silicon Valley-based startup closed a $150 million Series C funding round, which placed its post-money valuation at $1.25 billion. While the exact amount of the new funding remains undisclosed, the company’s rapid growth and increasing enterprise adoption appear to have played a key role in attracting investor interest. Codeium has now reached an annualized recurring revenue (ARR) of around $40 million. This valuation suggests that investors are assigning a multiple of nearly 95 times its ARR, a significantly higher figure than other AI-driven code-generation platforms. For comparison, A...